Kozak & Associates Inc. Increases Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Kozak & Associates Inc. increased its holdings in AbbVie Inc. by 164.4% during the 2nd quarter, owning a total of 4,849 shares worth approximately $924,000.
• AbbVie has received positive ratings from multiple analysts, with the consensus rating being a "Moderate Buy" and a price target of $222.68.
• The company announced a quarterly dividend of $1.64, resulting in an annualized dividend yield of 3.0%.

Kozak & Associates Inc. raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 164.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,849 shares of the company's stock after acquiring an additional 3,015 shares during the quarter. AbbVie comprises 0.2% of Kozak & Associates Inc.'s holdings, making the stock its 26th largest position. Kozak & Associates Inc.'s holdings in AbbVie were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the company. FF Advisors LLC lifted its holdings in shares of AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company's stock worth $286,000 after purchasing an additional 53 shares during the period. Private Management Group Inc. increased its stake in AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after buying an additional 54 shares during the last quarter. Silicon Valley Capital Partners grew its position in shares of AbbVie by 10.8% during the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company's stock valued at $118,000 after acquiring an additional 56 shares during the period. Seneca House Advisors boosted its holdings in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company's stock worth $388,000 after buying an additional 56 shares during the period. Finally, Connecticut Wealth Management LLC lifted its stake in AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ABBV shares. Evercore ISI raised their price target on shares of AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a report on Monday. Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. Finally, Guggenheim raised their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average price target of $223.45.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $0.62 during mid-day trading on Monday, hitting $223.09. 5,989,926 shares of the company were exchanged, compared to its average volume of 4,689,837. The stock has a 50 day simple moving average of $203.75 and a 200-day simple moving average of $194.84. The firm has a market cap of $394.09 billion, a price-to-earnings ratio of 106.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $225.16.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie's payout ratio is 312.38%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.